When Will Property Prices Start Rising Again?

[cybernoid]

They released equity that was financially equitable as long as they were at the right age, this gets to the crux of cybernoids failure to understand being in the right place at the right time is far more valuable than finding the boson higgs sparticle at the wrong time

Im painfully aware of the value of being in the right place at the right time. I was born at the wrong time to own a property of my own, and I know it won't make much of a difference how smart I am or how hard I work, that initial luck is 90% of the ability to buy responsibly.

My earlier point was this :

resources ought to be concentrated with the smart.

I didn't say they were. This is why we are where we are.

Edited January 14, 2013 by cybernoid

[BLOW FLY]

MEWing is poison. I've come across quite a few people who bought a house for like 45k in 1997 (I used to volunteer at a CAB and live in the north where prices are lower) and have managed to owe 60k on it now, or similar. It's ridiculous. Almost like they were trying to screw things up! I find that much harder to understand than people who overpaid during the boom.

+1

I know people that paid £90k odd for a house in the late 90s and now somehow have a mortgage for £200k + on the same house, go figure.....

BF

[mikthe20]

+1

I know people that paid £90k odd for a house in the late 90s and now somehow have a mortgage for £200k + on the same house, go figure.....

BF

I hope they have ******ing good time and have a wealth of anecdotes to demonstrate it!

[sossij]

I liked this idea from one MNetter on there:

The BEST thing that could happen to the housing market in this country would be for Outline Planning Permission to become non renewable.

Because

that would force around 100,000 worth of developer size plots - ie 40,000 decent size self builder plots - onto the market every year for the next five years

and self builders build bigger, more eco homes at a lower profit margin than companies.

And as somebody who would LOVE to build my own eco low bills house its a no brainer.

The next MN campaign?

[/Quote]

Go for it girls!

[dances with sheeple]

MEWing is poison. I've come across quite a few people who bought a house for like 45k in 1997 (I used to volunteer at a CAB and live in the north where prices are lower) and have managed to owe 60k on it now, or similar. It's ridiculous. Almost like they were trying to screw things up! I find that much harder to understand than people who overpaid during the boom.

Biggest payout most little punters were going to get in their lifetime? The closest they would get to passive income like the Rich Man? Too tempting for most as they didn`t think we would be where we are now? The mass credit experiment won`t happen again IMO.

[zugzwang]

[/b]

Biggest payout most little punters were going to get in their lifetime? The closest they would get to passive income like the Rich Man? Too tempting for most as they didn`t think we would be where we are now? The mass credit experiment won`t happen again IMO.

But it's already happening again in the US!

Bernanke's 'recovery' is predicated on the assumption of another gigantic mortgage bubble supplemented by a trillion dollar student loan facility and 0% interest 60-month auto financing. QE infinity and the Fiscal Cliff Ramp are there to seal the deal.

[rantnrave]

Get in quick if you want to read any of the MN thread...

Morning everyone,

We'll be deleting this thread shortly, as we don't feel it's in the spirit of Mumsnet to badmouth other forums (we'd hate it if someone did it to us.)

[DeepLurker]

Get in quick if you want to read any of the MN thread...

Balls, gone.

Shame, as it was a fascinating read - far better than most current HPC threads

MN is - to me - a good barometer of public opinion, a version of the "white van man". To see such large numbers of MNers speak against HPI is excellent news.

And Janethewitch was a hoot. I suspect she was a troll, but a damned good one (who else but a troll would put in writing that Hamish McTavish was a good read viz. economic matters? ).

[dances with sheeple]

But it's already happening again in the US!

Bernanke's 'recovery' is predicated on the assumption of another gigantic mortgage bubble supplemented by a trillion dollar student loan facility and 0% interest 60-month auto financing. QE infinity and the Fiscal Cliff Ramp are there to seal the deal.

They have had a proper crash in many states though? But you can`t force people to borrow yet as far as I know? Sentiment will also ensure there isn`t a repeat of the daft bubble years IMO. The generation that lived through the 1930`s depression were the ones that became totally (unrealistically?) paranoid about taking on mortgage and other debt, because they remembered desperate banks taking farms, houses, machinery back for two or so missed payments? It took a few decades before Americans were spoiled enough to really suck hard on the cheap credit teat? I think after all this plays out people will hate cheap money and stupidly low interest rates.

Edited January 15, 2013 by dances with sheeple

[dances with sheeple]

Balls, gone.

Shame, as it was a fascinating read - far better than most current HPC threads

MN is - to me - a good barometer of public opinion, a version of the "white van man". To see such large numbers of MNers speak against HPI is excellent news.

And Janethewitch was a hoot. I suspect she was a troll, but a damned good one (who else but a troll would put in writing that Hamish McTavish was a good read viz. economic matters? ).

A deluded idiot who paid too much for their house? I hear there are still some about

[sossij]

Balls, gone.

Shame, as it was a fascinating read - far better than most current HPC threads

MN is - to me - a good barometer of public opinion, a version of the "white van man". To see such large numbers of MNers speak against HPI is excellent news.

And Janethewitch was a hoot. I suspect she was a troll, but a damned good one (who else but a troll would put in writing that Hamish McTavish was a good read viz. economic matters? ).

I saved a copy - PM me if anyone wants to read it.

[Austin Allegro]

You're less likely to be in that NE position if you hadn't eagerly gobbled off banker's debt to overpay for a house in the first place, outbidding even cash buyers. They can all drop dead for all I care.

'Let them eat cupcakes'

[cybernoid]

who else but a troll would put in writing that Hamish McTavish was a good read viz. economic matters? ).

He/She would! Who knows how many user names that person has, is it sibley as well? Towards the end of the thread I became convinced it was that nutjob under yet another user name. Nice to have a hobby I guess. Won't make a blind bit of difference to the market though. Obviously up to their nethers in debt secured on houses dropping like stones.

However the thread just served as an interesting barometer of the general publics opinion rather than talking up the market as they probably expected.

In 2006 the bears were the nutters, now its the bulls. Be nice if people thought a bit wouldn't it, instead of repeating what everyone else says.

[dances with sheeple]

He/She would! Who knows how many user names that person has, is it sibley as well? Towards the end of the thread I became convinced it was that nutjob under yet another user name. Nice to have a hobby I guess. Won't make a blind bit of difference to the market though. Obviously up to their nethers in debt secured on houses dropping like stones.

However the thread just served as an interesting barometer of the general publics opinion rather than talking up the market as they probably expected.

In 2006 the bears were the nutters, now its the bulls. Be nice if people thought a bit wouldn't it, instead of repeating what everyone else says.

Exactly. Quite a turnaround. Anyone thinking they are qids in with property is now seen as a loon. In fact the sheeple don`t bleat much in public anymore about property, that is most telling IMO. The bottom end seems to be starting to slip away here in Edinburgh, happy days.

[Democorruptcy]

But it's already happening again in the US!

Bernanke's 'recovery' is predicated on the assumption of another gigantic mortgage bubble supplemented by a trillion dollar student loan facility and 0% interest 60-month auto financing. QE infinity and the Fiscal Cliff Ramp are there to seal the deal.

Well they have realised how happy people are to sign away their freedom to debt. They know they can extend mortgage terms 20 years and people who aspire to make their bricks worth more, are prepared to work until they drop servicing debt.

[happy_renting]

I would advise this woman to go and buy the BIGGEST house she can if house prices go up.

Why?

Because she'll need the room - her kids won't be moving out to their own place any time soon.

[jacobs ladder]

Yep, a huge bellweather that one! 6 years back I swear it was all anyone talked about and friends were quite literally on their knees imploring me not to carry on being such a stupid ******er and to just buy a place. All I get now is the odd, tentative, quietly spoken question, "you thinking of buying yet"? I think now they want me to buy as they think that means the worst is over and things will be on the way back up again. Instead I tend to reply with "Are you ******ing joking? Do I look mental"?!

[erranta]

Yep, a huge bellweather that one! 6 years back I swear it was all anyone talked about and friends were quite literally on their knees imploring me not to carry on being such a stupid ******er and to just buy a place. All I get now is the odd, tentative, quietly spoken question, "you thinking of buying yet"? I think now they want me to buy as they think that means the worst is over and things will be on the way back up again. Instead I tend to reply with "Are you ******ing joking? Do I look mental"?!

Just tell 'em prices down over 50% in Northern Ireland

- because THE CITY Bankers/Westminster are not manipulating the prices on the way down, just shafting stoopid buyers who bid the price war up.

It's only cos the City bankers are bust here that the taxpayer is forced to subsidise houseprices by Bill_ions each year by the bought-out crooks in Westminster (protecting their own interests too - as in being multiple house owners/letting)

Here's the Telegraph link on the filthy "Land-bankers"

"However, figures from the building industry suggest that developers are holding large numbers of plots where they have been granted planning permission but have not started construction. "

http://www.telegraph...n-the-bank.html

So Westminster throw Billions £££'s at Bankers who do not lend to medium/small businesses

And National Building Companies that prefer to sit on Thousands of acres of building plots already with planning permission

Edited January 15, 2013 by erranta

[jfk]

Damn, sad it's been deleted - it WAS a fascinating read, as others have said, a barometer of general opinion.

It was obviously a troll towards the end and some people, quite interesting, asked if it was our favourite little miss piggy Krusty the 'pwoperty dveloper' (or at least one of her associates/mates/work coleauges)

Janethewitch, we salute you for promoting the cause and providing us with bear food.

[AvoidDebt]

We should repost the entire thread in the classics section and post it to every local MP and then add their replies. Its pretty obvious how peeved off everyone is with the property ponzi. Most sane people now realise the magnitude of the crime.

[dances with sheeple]

We should repost the entire thread in the classics section and post it to every local MP and then add their replies. Its pretty obvious how peeved off everyone is with the property ponzi. Most sane people now realise the magnitude of the crime.

Many MP`s might have browsed it already on mumsnet? If people really are waking up to the property farce, then it will collapse whatever the MP`s/VI`s do?

[bearwithasorehead]

I think someone said they had kept a copy? Would be great to have it in the classics. It's the first time I've read anythinbg with so many bareish contributors outside of this website! And considering what website it was on, it could be a real indicator of a general shift of mood and thus would be good to read again. And again. And again. And again.....

Did they strip off too?

[19 year mortgage 8itch]

I think someone said they had kept a copy? Would be great to have it in the classics. It's the first time I've read anythinbg with so many bareish contributors outside of this website! And considering what website it was on, it could be a real indicator of a general shift of mood and thus would be good to read again. And again. And again. And again.....

It'll be cached on google won't it?

[DeepLurker]

We should repost the entire thread in the classics section and post it to every local MP and then add their replies. Its pretty obvious how peeved off everyone is with the property ponzi. Most sane people now realise the magnitude of the crime.

I think the people who run Mumsnet might be reaching for their lawyers if Fubra did that...

[sossij]

I think someone said they had kept a copy? Would be great to have it in the classics. It's the first time I've read anythinbg with so many bareish contributors outside of this website! And considering what website it was on, it could be a real indicator of a general shift of mood and thus would be good to read again. And again. And again. And again.....

Yup - I grabbed a text copy. If anyone wants a copy just PM me.